Millicom Slips To Q2 Loss, But Revenues Up 17.8%, Backs Outlook - Quick Facts

(RTTNews) - Swedish telecom and media company Millicom International Cellular S.A. (MICC, MIICF) reported a second-quarter net loss of $99 million or $0.99 per basic share, compared to net income of $186 million or $1.86 per basic share in the prior-year quarter.

Excluding items, adjusted net loss for the quarter was $0.05 per share, compared to adjusted net income of $0.27 per share last year.

EBITDA for the quarter was $561 million, up 17 percent from $479 million a year ago. Excluding UNE, EBITDA was $480 million, a margin of 33.6 percent.

Revenue for the quarter grew 17.8 percent to $1.70 billion from $1.45 billion in the same quarter last year. Excluding UNE, group revenue were $1.43 billion, an organic growth of 9.0 percent.

The company said this was a strong quarter for mobile net adds, with mobile customer base up 1.9 million to now total almost 60 million mobile subscribers.

The company noted that its strategy is refocused on monetizing the Digital Lifestyle, cable expansion and profitable growth.

For 2015, Millicom confirmed its guidance, but now expects revenue between $6.8 and $7.2 billion, and EBITDA between $2.12 and $2.26 billion at currency rates prevailing in July 2015. Previously, the company projected revenue between $7.1 billion and $7.5 billion and EBITDA between $2.20 billion and $2.35 billion at currency rates prevailing in February 2015.